RCM History People Thesis Projects Documents

History of RCM

1957 – Farrell1 publishes famous paper where ratios of measures are used as a measure of efficiency

1978 – Charnes, Cooper & Rhodes2 extend Farrell’s work and publish original Data Envelopment Analysis (DEA) model

1986 – Sexton3 extends DEA by developing Cross Efficiencies

1991 – Oral and Kettani4 apply DEA to funding decision problem

1992 – Stewart5 and Doyle & Green6 make the mathematical and philosophical connection between DEA and multi-criteria decision making

1993 – Dr. J.C. Paradi7 opens the Centre for Management of Technology & Entrepreneurship (CMTE) at the University of Toronto to apply DEA to the Financial Services Industry

1997 – Ruggieri begins his Ph.D. studies at the CMTE focused on funding decisions

1999 – First RCM models developed and method described with application to large government granting agency competition data

2000 – Application of RCM to Venture Capital / Internet Startups industry through CanadaStartups.com

2003 – Connection to Game Theory established

2004 – Ruggieri8 publishes Thesis

2005 – Application of RCM to Product Rationalization problem

2007 – Application of RCM to Project Risk Assessment

2008 – Application of RCM to Vendor Bid Prioritization

2010 – Application and Licensing of RCM for Graduate Scholarship Competition Data

2011 – RCM Online Resource Library opens at rcm.ruggieri.ca

2012 – RCM used as Artificial Intelligence engine for Kydo Chess App9 computer opponent 

[1] Farrell, M.J., (1957). The Measurement of productive efficiency. Journal of the Royal Statistical Society, 120(3), 253-290.

[2] Charnes, A., Cooper, W.W., & Rhodes, E. (1978). Measuring the efficiency of decision making units. European Journal of Operational Research, 2(6), 429-444.

[3] Sexton, T. R., (1986). The Methodology of Data Envelopment Analysis. R.H.  Silkman (Ed.) Measuring Efficiency: An Assessment of Data Envelopment Analysis, San Francisco, Jossey-Bass.

[4] Oral, M., O. Kettani, et al. (1991). A Methodology for collective evaluation and selection of industrial R&D projects. Management Science, 37(7), 871-885.

[5] Stewart, T.J. (1992). A critical survey on the status of multiple criteria decision making theory and practice. Omega, 20, 569-586

[6] Doyle, J. and R. Green (1993). Data Envelopment Analysis and Multiple Criteria Decision Making, Omega International Journal of Management Science, 21(6), 713-715.

[7] Centre for Management of Technology & Entrepreneurship (CMTE) www.cmte.utoronto.ca.

[8] Ruggieri, J. P. (2004) “Ranking by Consensus Using One-Sided DEA”, Ph.D. Thesis,University of Toronto, ISBN: 0612944344, 256 pages.

[9] Kydo Chess App by Kydo Engineering (2012), BlackBerry WorldTM, http://appworld.blackberry.com/webstore/content/125051/